WASHINGTON, D.C, Oct. 12, 2026 (GLOBE NEWSWIRE) — The Crowdfunding Professional Association (CfPA) today released the CfPA Private Market Reporting Standard (PMRS) v1.0, a voluntary framework that defines how private market platform’s structure and export investment, payment and performance data in a consistent, spreadsheet-readable format.
The effort was led by Paul Lovejoy, CfPA’s Investor Committee Chair, with contributions from the Investor and Intermediary committees. They built the standard to address a practical challenge: investors holding investments across multiple platforms must often reconcile different data formats to track their portfolios. That fragmentation limits what investors, advisers, custodians and the industry as a whole can see. The standard gives platforms a common reporting layer: shared field definitions, consistent formatting and explicit treatment of missing or inapplicable data.
“Investors shouldn’t have to rebuild their spreadsheets every time they invest through a different platform,” said Brian Belley, President of the Crowdfunding Professional Association. “This standard gives platforms and investors a practical starting point for sharing consistent data. We want people to use it, tell us what needs improvement and help us make the next version even better.”
The standard covers loans, revenue-share notes, operating company equity, real estate equity and funds with a published net asset value. Equity fields include common and preferred shares, SAFEs and convertible notes. The framework is built for Reg CF and Reg A and is designed so the broader private market can adopt it.
The specification defines four related CSV files: Portfolio, Payment Schedule, Payment History and Payment Year Schedule. Platforms export the files relevant to each instrument. An accompanying data dictionary explains field definitions, formatting, data sources and treatment of missing or inapplicable values.
Together, the files are designed to support consolidated portfolio tracking, cashflow and return calculations, payment and distribution verification, and investment-status reporting. Consistent exports can also support the information workflows of institutional investment teams and retirement-account custodians.
“Public markets have a shared reporting language. Private markets need one too,” said Paul Lovejoy. “Reg CF and Reg A are the right place to start. When every platform reports the same way, an investor can track and forecast their cash flows, an adviser can see a client’s full picture and the market can measure its own performance.”
Adoption is voluntary. The standard does not create a new regulatory reporting obligation or replace required securities disclosures. SEC regulated portals Wefunder and Climatize are currently reviewing the PMRS for adoption. The CfPA invites other platforms, portfolio-tool providers, advisers, investors and custodians to review v1.0 and provide implementation feedback. The Investor Committee will review feedback at least annually, with earlier revisions considered as needed.
The specification, data dictionary and sample workbook are available on the CfPA Private Market Reporting Standard page at https://cfpa.org/standards/pmrs/. Explore related standards and best practices through CfPA’s Education & Industry Resources hub.
About the Crowdfunding Professional Association
The Crowdfunding Professional Association (CfPA) is a 501(c)(6) nonprofit trade association dedicated to advancing the regulated investment crowdfunding economy. CfPA supports issuers, investors, regulated intermediaries and crowdfunding professionals through education, advocacy, industry engagement and policy work. Learn more at CfPA.org or join at cfpa.org/joinus.
CfPA invites readers to join industry professionals next week at the 2026 Regulated Investment Crowdfunding Summit in Washington, D.C., October 20–21, for substantive discussions, practical insights and networking. Learn more and register at ricsummit.org.
Website: https://cfpa.org
Contact
Vice President | Chair, Growth Committee
Jason Fishman
Crowdfunding Professional Association, Inc.
press@cfpa.org
